FedEx reported net income of $384 million for its fiscal first quarter ended Aug. 31, down 22% from the same period last year, citing "challenging" economic conditions. Chairman, President and CEO Frederick Smith said the delivery giant will "continue to hold the line on costs across all segments." It also will raise shipping rates 6.9% from Jan. 5 for domestic US and US export services as part of its effort to compensate for "weaker global macroeconomic conditions." First-quarter revenue ...

Subscribe to Access this Entire Article

"FedEx quarterly profit drops 22%, cites 'global economic weakness'" is part of ATW Plus, our online premium membership. Subscribing will provide you access to exclusive news, carefully researched airline financial, fleet and traffic data, plus the option to receive our popular, award-winning print magazine. To learn more, click here. If viewing via ATW Mobile, please login and click "Read web article" to view fully. Questions?

Already registered? here.